|
|
 |
|
Viewing report
|
|
|
|
Banco Nacional de Mexico, S.A. (Banamex)
Standard & Poors, Nov 2003
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Ownership structure Market position Improved earnings base Concentration in the loan portfolio by individual customers Important exposure to the Mexican government The ratings on Banco Nacional de M-xico (Banamex) reflect the bank's ownership structure, its importance as a wholesale bank in Mexico, and improved earning capacity despite a reduction in lending activities. The ratings are balance by a concentration in the loan portfolio by individual customers and the exposure of the bank's balance sheet to the Mexican government. Banamex has completely integrated to Citigroup, its main shareholder. Although Standard & Poor's Ratings Services does not view ownership support as a direct guarantee of the obligations of Banamex, it believes that, given the importance of the bank and its business prospects,...
Companies mentioned in this report are: Banco Nacional de Mexico, S.A. (Banamex),Citicorp,MetLife Insurance Co. of Connecticut,Citibank (South Dakota) N.A., Sioux Falls,Citibank (New York State), Pittsford,Citibank (Nevada) N.A., Las Vegas,Citigroup Inc.,Citigroup Global Markets Holdings Inc.,Citigroup Capital II,Citigroup Capital III,Citigroup Capital V,Citigroup Capital IV,Citigroup Capital VI ,Citigroup Capital VII,Citigroup Capital VIII,Citigroup Capital X ,Citigroup Capital XI,Citigroup Capital XII,Citigroup Capital XIII,Citigroup Capital I,MetLife Insurance Ltd. (Unsolicited Ratings),Citibank Securities (Taiwan) Ltd.
Action: Review
|
|
|
|
